MATIC/BTC 1H (Binance) Ascending triangle pattern in formation
Updated
Matic Network looks Bullish again, we can expect a strong Fibonacci retracement from here.
Fib. 0.236 is acting as Support at 208 sats and Fib. 0.382 as Resistance at 216 sats.
There is an old S/R at 216 sats which will probably be broken soon:
Entry range= 0.00000212 - 0.00000208
Take Profit= 0.00000225 | 0.00000233 | 0.00000244
Stop Loss= 0.00000195
Risk/Reward ratio= 1:1 | 1:1.53 | 1:2.27
Expected Profit= 7.14% | 10.95% | 16.19%
Possible Loss= -7.14%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 1x | 3x | 5x
Fib. 0.236 is acting as Support at 208 sats and Fib. 0.382 as Resistance at 216 sats.
There is an old S/R at 216 sats which will probably be broken soon:
Entry range= 0.00000212 - 0.00000208
Take Profit= 0.00000225 | 0.00000233 | 0.00000244
Stop Loss= 0.00000195
Risk/Reward ratio= 1:1 | 1:1.53 | 1:2.27
Expected Profit= 7.14% | 10.95% | 16.19%
Possible Loss= -7.14%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 1x | 3x | 5x
Trade active
Entry at 210 sats was filled, get ready!Trade closed: target reached
TP1 hit with +7.18% or even more if you got it a bit lower. I was actually buying down to 205 sats using 5x leverage in Binance Margin so I'm in quite good profit right now! I sold some and let the rest grow towards other targets 🚀Trade active
Just gave back entry at 0.00000212, I hope you were attentive enough to catch some there if you lost the train before, or to buy back if you already sold some. Let's see if we're going for TP1 again and more!Trade closed: target reached
TP1 2nd timeTrade closed: target reached
TP3 hit with +16.19% and went way higher to 311 sats that'd be 48.10% max profit!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.